The chart from Futu is quite clear. You might think it's Wall Street invading, but in fact, it's a cryptocurrency company changing locations to continue its capital operations. Haha, the main drivers behind this wave of ETH are still Pantera and Peter Thiel. Among these five companies, SharpLink and Bitmine are backed by Pantera, ParaFi Capital, Galaxy, the Silicon Valley legend Peter Thiel, ConsenSys, and Wan Hui. In May 2025, Pantera participated in SharpLink's $425 million private equity financing, co-investing with crypto VCs like ConsenSys, ParaFi Capital, and Galaxy Digital. On June 30, 2025, Pantera also participated in BitMine's $250 million private equity financing, with Galaxy Digital and ParaFi Capital also co-investing with Pantera. Founders Fund (Peter Thiel's fund) also participated in BitMine's $250 million private equity financing, holding a 9.1% stake (5,094,000 shares). In addition to these, there's also a familiar face in the Chinese cryptocurrency circle, Wan Hui, whose Primitive Ventures has also bet on SharpLink. The chairman of Bit Digital is also a familiar figure in the Chinese cryptocurrency circle, Yu Hong (the famous leader of the 3 o'clock community back in the day). Bit Digital was formerly a P2P platform "Dian Niu Financial". In 2020, as P2P declined, it transformed into a Bitcoin mining migration company to the U.S. and completed a reverse merger to go public in 2021. After the cryptocurrency stock boom, Bit initially hoarded Bitcoin, but then in July, it suddenly announced a large-scale purchase of ETH, and subsequently, its stock price soared back from the brink of delisting.